Senegal's Minister of Finance has reportedly adopted Circular No. 025/MFB, which replaces Circular No. 153/MEF of 11 May 2004 on the regulation of the Investment Code. The Investment Code provides various incentives for approved investment projects, including: An exemption from customs duties on imports of equipment and materials intended for the investment phase of approved projects; The suspension of VAT on goods, services, and works necessary to complete the investment phase of approved projects; and A corporate income tax credit for a portion of investments made in approved projects. The new Circular clarifies certain aspects of the investment incentives regime,...